United Rentals (NYSE:URI) Reaches New 1-Year High on Analyst Upgrade

Shares of United Rentals, Inc. (NYSE:URI) hit a new 52-week high during mid-day trading on Thursday after Bank of America raised their price target on the stock from $1,020.00 to $1,195.00. Bank of America currently has a buy rating on the stock. United Rentals traded as high as $1,118.11 and last traded at $1,129.7740, with a volume of 35154 shares. The stock had previously closed at $1,083.72.

A number of other research firms also recently commented on URI. UBS Group boosted their price target on shares of United Rentals from $1,025.00 to $1,145.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Morgan Stanley reiterated an “overweight” rating and set a $1,030.00 price target on shares of United Rentals in a research report on Friday, April 24th. Citigroup boosted their price objective on United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Robert W. Baird upped their price objective on United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, KeyCorp raised their target price on United Rentals from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,070.50.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the sale, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. This trade represents a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On United Rentals

A number of institutional investors and hedge funds have recently modified their holdings of URI. Western Wealth Management LLC increased its stake in United Rentals by 56.3% in the 1st quarter. Western Wealth Management LLC now owns 1,411 shares of the construction company’s stock worth $1,028,000 after purchasing an additional 508 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in United Rentals during the first quarter valued at about $7,382,000. Parallel Advisors LLC boosted its holdings in shares of United Rentals by 0.8% in the first quarter. Parallel Advisors LLC now owns 1,485 shares of the construction company’s stock worth $1,082,000 after buying an additional 12 shares during the period. Optiver Holding B.V. acquired a new position in shares of United Rentals in the first quarter worth about $82,000. Finally, Asset Dedication LLC increased its position in shares of United Rentals by 185.2% in the first quarter. Asset Dedication LLC now owns 154 shares of the construction company’s stock worth $112,000 after acquiring an additional 100 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

The firm’s 50-day moving average price is $972.21 and its two-hundred day moving average price is $877.50. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $70.75 billion, a PE ratio of 28.77, a P/E/G ratio of 1.68 and a beta of 1.81.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the prior year, the business posted $8.86 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts predict that United Rentals, Inc. will post 47.26 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals’s payout ratio is presently 20.10%.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.